Dublin, April 14, 2022 (GLOBE NEWSWIRE) -- The "Smart Electricity Meters - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Smart Electricity Meters Market to Reach $15.2 Billion by 2026
The global market for Smart Electricity Meters estimated at US$10.5 Billion in the year 2020, is projected to reach a revised size of US$15.2 Billion by 2026, growing at a CAGR of 6.7% over the analysis period.
For utilities aiming to modernize their grid operations with advanced solutions, smart electricity meters have emerged as an effective tool that can flawlessly address their various energy T&D needs in a simple and flexible manner.
Single-Phase, one of the segments analyzed in the report, is projected to record 6.2% CAGR and reach US$11.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Three-Phase segment is readjusted to a revised 7.9% CAGR for the next 7-year period.
In the coming years, the growth of smart electricity meters market will be driven by the increasing need for products and services that enable energy conservation; government initiatives to install smart electric meters in order to address issues of energy requirement; the ability of smart electric meters to prevent energy losses due to theft and fraud, and to reduce the costs involved in manual data collection; increasing investments in smart grid establishments; the growing trend of integration of renewable sources to existing power generation grids; rising T&D upgrade initiatives especially in developed economies; increasing investments into construction of commercial establishments such as educational institutions and banking institutions in both developing and developed economies; and emerging growth opportunities in Europe with the ongoing rollouts of smart electricity meter rollouts in countries such as Germany, the UK, France, and Spain.
Three-Phase Smart Meters to Reach $4.1 Billion by 2026
Global market for Three-Phase Smart Meters is estimated at US$2.7 Billion in 2020, and is projected to reach US$4.1 Billion by 2026 reflecting a compounded annual growth rate of 7.9% over the analysis period.
China constitutes the largest regional market for Three-Phase segment, accounting for 36.0% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 9.1% over the analysis period, to reach US$1.8 Billion by the close of the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 and a Looming Global Recession
- Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP
- Smart Meters: Laying the Foundation of Energy Efficiency and Reliable Utility Networks
- An Introduction to Smart Electricity Meters
- Smart Electricity Meters: Reliable, User-Friendly, Cost Effective, and Energy Efficient Technology
- AMI Technology Poised to Grow at a High Rate
- Residential Sector Dominates Smart Electricity Meters Market
- Asian Economies Spearhead Growth
- Key Challenges Confronting the Smart Electricity Meters Market
- Competition
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
- ABB Ltd
- Aclara Technologies LLC
- Apator SA.
- Circutor SA
- EDMI Limited
- Honeywell International
- EMH metering GmbH & Co. KG
- Holley Technology LTD
- Iskraemeco d.d.
- Itron, Inc.
- Jabil, Inc.
- Jiangsu Linyang
- Kamstrup
- Landis+Gyr
- OSAKI ELECTRIC CO., LTD.
- Schneider Electric, Inc.
- Secure Meters Ltd
- Sensus, a Xylem Brand
- Wasion Group
- Xemex
- ZPA Smart Energy a.s.
3. MARKET TRENDS & DRIVERS
- Environmental Concerns, Reduction in Energy Wastage, and Need for Energy Efficiency Drive Adoption of Smart Metering Technology
- Myriad Benefits of Smart Electricity Meters to Drive Global Adoption
- Benefits of Smart Electricity Meters to Utilities
- Benefits to Customers
- Digitization Trend in Utilities Spurs Adoption of Smart Meters
- Spiraling Demand for Electricity and Inefficient Infrastructure Drives Power Utilities to Deploy Smart Meters
- China and India Lead the Global Rise in Demand for Electricity
- Growing Deployments of Smart Grids: A Strong Business Case for Smart Electricity Meters
- Spending on Smart Grids Strengthens Smart Metering Infrastructure Plans
- Renewable Energy Integration: A Promising Application of Smart Electricity Meters
- Rising Prominence of Internet of Things (IoT) in Utilities to Benefit Penetration
- Rise of Smart Cities and Focus on Smart Energy Management Opens Up Opportunities for Smart Electricity Meters
- At the Core of Smart Cities Are Smart Metering Solutions for Provision of Smart Utility Services
- Smart Electricity Meters Emerge as Vital Components for Efficient Energy Use & Consumption Control in Smart Cities
- Increasing Investments in Smart Home Technology Solutions to Fuel Demand for Smart Meters
- Growing Investments into Smart Homes Stimulate Smart Meters Market
- Integration of Electric Vehicles and Smart Meters Enable Shift towards Sustainable Economy
- Rising Prominence of Smart Electricity Meters in Advanced Outage Management
- Smart Electricity Meters Gain Prominence in Distribution Automation
- Government Policies Critical for Smart Electricity Meters Adoption
- Cloud Computing Transforms Smart Metering Market
- Big Data Analytics to Provide Actionable Insights from Smart Meters-Generated Data
- AI Presents Immense Opportunities to Tap Smart Meter Data
- Blockchain to Mitigate Data Safety and Privacy Concerns for Smart Meters
- Increasing Integration of Cellular Technology in Smart Electricity Meters
- Population Growth and Demographics Drive Need for Smart Utility Infrastructure, Supporting Demand for Smart Meters
- Key Issues & Challenges Hampering Widespread Adoption of Smart Meters
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/dzpcvw
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